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Description

A physically settled daily futures contract for silver delivered loco London in unallocated vault accounts.

Market Specifications

Trading Screen Product Name

Silver Daily Futures

Trading Screen Hub Name

ICUS

Contract Symbol

HIO

Contract Size

5,000 fine troy ounces

Price Quotation

US Dollars and cents per fine troy ounce

Eligible Contract Dates

London Business Days on which commercial banks are generally open for business in New York

Minimum Price Fluctuation

One half cent ($0.00500) per fine troy ounce ($25.00 per contract) except that Block and EFRP trades may be executed at $0.00001 per fine troy ounce ($0.05 per contract)

Settlement

Physical Delivery

Delivery Locations

Vaults in London operated by an LPMCL member which provides vaulting services for silver.

Grade/Standards/Quality

Silver meeting the specification standards published by the LBMA for silver bars that are acceptable in settlement of unallocated loco London silver transactions, as revised from time to time.

Daily Price Limit

None

Listing Cycle

Up to 70 Eligible Contract Dates.

Last Trading Day

The London Business Day prior to the Contract Date; trading in the expiring Contract Date ends at noon London time on LTD.

First Notice Day

The London Business Day prior to the Contract Date.

Off Exchange Trade Types

EFP, EFS and Block Trades permitted

Block Trade Minimum

5 lots

Fees

Screen, EFRP and Crossing Order Trades: $1.00 per side
Block Trades: $1.10 per side

Daily Settlement

13:24 to 13:25 pm NY time

Position Limit

10,000 lots in any month/all months combined

MIC Code

IFUS

Clearing Venues

ICUS

Related Products

• Gold Daily Futures

Trading Hours

Codes